Major Support level on INTEL | What we want to see

Based on the current global chip shortage. There are 3 companies worth paying attention to TSMC - INTEL - SAMSUNG. The 3 of them are heavily investing in increasing their production capability to finish these shortages affecting key industries across the globe.


Today, we will analyze INTEL from a technical perspective:

-The main thing that we can observe on the chart is a MAJOR support zone. That's a key level to pay attention to. Why? Because since 2018 has been working as a key bouncing level

-That's why we want to observe contact there before thinking about any bullish setup. This is a good filter to avoid engaging in situations that are not 100% in our favor based on historical behavior

-IF we observe contact, we want to see a breakout of the descending trendline followed by a correction similar to the 3 scenarios that happened before.

-Our Target for this future movement is 57.00


What's the whole point of these types of analyses that are not "close to happening"?
If we do this regularly, we reach a moment where 3 to 4 times a month, we have premium situations working as expected, and we can develop high-quality setups on these charts that we get ready with months in advance.

If I have to define my edge on the markets, it would be: Patience + Being ready in advance as much as possible.


Thanks for reading!